tv Lou Dobbs Tonight FOX Business April 3, 2013 10:00pm-11:00pm EDT
if you cannot catch us live. have great night and we will see right back here tomorrow evening. ♪ lou: good evening and thank you for joining us tonight. north korea is our top story. the north korean government stating that the leader has given his military final approval to launch a nuclear strike against the united states . the general staff for the korean people's army formally informing washington as bike is been a -- strike has been ratified and the continued u.s. threats would be smashed by cutting edge lighter and diversified nuclear strike means. the north koreans also warned a war could break out on the korean peninsula as san as
tomorrow. those threats are being taken seriously by the u.s. government ,he top u.s. commander in south korea. the situation on the ground there volatile and dangerous. any miscalculation could lead to what he calls a kinetic provocation of combat. secretary of defense ordered an advanced interceptor missile system to the pacific island of guam, deploying the ballistic terminal high-altitude area defense or as it is called the is that the system. it is a precautionary move to strengthen our regional defense posture against the north korean ballistic missile threat. secretary hegel cautioned that one mistake in the midst of such elevated tensions can result in a disaster of immense proportions. >> it only takes being wrong once.
i don't want to be the secretary of defense who was wrong once. we will continue to take these threats seriously. i hope the north will ratchet this very dangerous rhetoric down. there is a pathway that is responsible for the north to get on a path to peace working with their neighbors. lou: we will be analyzing the north korean nuclear threat and whether the united states will respond to those threats preemptively. contributing to a sell-off on wall street today, and so did a particularly maladroit the appraisal of the economy and fed policy. san francisco federal reserve president john williams said the fed could start tapering its $85 billion a month asset purchase program by this summer. wall street promptly lost two 1/4 trillion -- two and a quter billion dollars in
market cap. moody's chief economist will be with us to assess all of that. the state of texas looking for the killer or killers of two of its prosecutors tonight. another prosecutor says enough. he will not be continuing his prosecution. we will have the latest for you on what is happening in the state of texas. a texas state government threatening to sue the federal government of the united nations arms treaty is ratified. we will be joined by texas attorney general greg abbott's and president obama ting his gun-control campaign on the road to colorado, a state that is already taking the assault on the second amendment into its own hands. foxes and politics other, democratic strategist. we begin tonight with president obama on the road tonight campaigning for and control and raising big money for his party. present abolished his anti-gun agenda before a sympathetic audience at a state that has
seen to mass murders at the hands of deranged gunman i columbine and over or. this is more analysts believe the chances of the senate passing in control now fading. fox news chief white house correspondent ed henry is there with the president. >> as president obama continued his campaign for gun control and caught up today, the issue crashed into political reality back in washington with the senior adviser acknowledging they may get no gun legislation at all, not even a watered-down version a sea-land republicans. >> if they decide it will block it, they can. i think there are -- their will be consequences. >> the political reality for the president is today's stop at the denver police academy, his 12th speech or event on gun since the tragedy at newtown, conn. yet his push for dramatic and control is fading fast. >> there is no reason we cannot
do this unless politics is getting away. lou: that may not pass stronger background checks, let alone the more aggressive ban on assault weapons. >> there may be people in washington getting cold feet. >> republicans are odds the opposing the measures he did not mention that lawmakers with cold feet are democrats facing the voters in 2014, some of were reacting negatively to being target with two weeks' work it -- worth of tv ads. one democrat declaring, i don't take advice from the mayor of new york city, listen to arkansas. while that issue may not play well with tolerable senate democrats, it could help the president rally is basin take back the house which is why he is ordering fund-raisers in san francisco.
it's not surprising that they get better, cling to guns or religion he later apologized. this sentiment has helpe fuel an intense lobbying campaign by the national life association which once supported expanded background checks but now sees a golden opportunity this stop the president told by instead pushing a controversial plan to vastly expand armored personnel and schools. >> background checks, we all want to make sure that criminals , those that have been declared with mental issues, that did not have access. while that debate goes on we're trying to do something about school safety. >> the presidents bush continu next monday when he goes to connecticut, clearly trying to play off of the newtown tragedy just as he did here with both
oracle and columbine happening in colorado in recent years. a chance to try and regain momentum. it is clear he has an uphill battle. lou: thank you. chief white house correspondent. the united nations yesterday approved a tree to regulate the international arms trade. my next guest presence to sue the administration if that treaty is ratified. he warned president obama in a letter, agreeing to the treaty does more than triple second amendment rights. it also threatens to erode all liberties kent -- guaranteed to america and the constitution. joining us tonight, the attorney general for the state of texas, gregg added. great to have you with this. the united nations general assembly passes this. it will move to the u.s. senate for ratification. we have seen already preliminary
vote the says they will turn it down. you are obviously concerned. why? >> because all of these stories that you have been talking about in the beginning of your show tonight actually fit together as pieces of a puzzle. in september read before the election the president came out and said that he would work with congress to pass his agenda, but if it failed to work with and he woodworker rode them. bere the election the president did not come out and strongly support the treaty. the day after his election the president came out and began pushing this treaty. last week joe biden said that the arms regulation being proposed is just the beginning. but all these pieces together, and here is what you see. the president and his administration are trying to achieve what he may not be able to achieve through regulation through congress. my fear and concern is the president will be able to accept defeat of arms regulation in the
u.s. senate but armed with senators to ratify this treaty. if they do i have loaded for a double barrel lawsuit and credit history. lou: the ratification of such a treaty would aggregate second amendment rights for all american citizens and would do so, as you say, through the united nations, an institution that many people think should be dissolved rather than have sway over the lives of our record in citizens. that we have our own federal government trying to strip away our second amendment rights. it gets even worse the we have the united nations and giving them authority to undermine our second amendment rights. that is why our potential lawsuit is so incredibly important. we believe the trees did not trump the constitution. so i will raise this lawsuit of the treaty passes, which it has now come of the president signs it into effect in the u.s. senate ratifies it.
we have to file a lawsuit to make sure it does not go into effect. we will lose the authority is kutcher has said for its own independence. lou: 388 shares across the country have vowed to pull the constitution and to defend second amendment rights against gun control measures from president obama. what is your posture should something be undertaken by ecutive order? >> well, an executive order is that going to be in acceptable in contravention of the second amendment. if you were to issue an order that i considered to be in violation of a lie would be bringing legal action to shut it down. right behind the is the capital of the state of texas.
as a sitter tonight they're considering legislation that will bar any executive order by the president from having any effect in the city taxes if it violates the second amendment and. texas is prepared to be fighting back. lou: we have now seen a prosecutor who withdraw from the case citing reasons of security. two of your district attorney's murdered. what can you tell us of what is going on in the state? initial reports is that the aryan brotherhood. now we are hearing that it may be the work of drug cartels. give us what you can't? sensitive for the state of taxes and government, what is important that we understand. >> first and foremost our sympathies go out to the family
of the district attorney and his wife as well as the assistant district attorney who lost their lives. they cannot be replaced. but their must not be forgotten. and so it is there's a possibility of law enforcement in texas or in collaboration with federal and local authorities to ensure that justice is achieved and that thou wrongdoers should do this will be apprehended and prosecuted. beyond that you may have heard that there was an arrest made earlier today of someone who had come out and made a threat about killing someone else. so we having to deal with a multitude of these issues : once the investigation is ongoing. we hope that it will lead to some meaningful lead to produce and. lou: attorney general gregg added, we thank you for being with us. good to talk with you, as always . we join you in expression of subsidies for all those who havv
been killed and the desire for a speedy, speedy resolution of the investigation. attorney-general of texas. much more on left wing assault on the second amendment in tonight's broadcast. the obama administration with another bright idea. they want people with bad credit to be buying houses. we've seen this movie, have only? we will take it out in the "chalk talk". disappointing reports on the economy and they lose that president sparking a selloff in the market. we will be joined by chief economist john lonski of moody's and next. ♪
letting a timetable on the possible end of the fed bond buyback program. investors really did not want to hear from the san francisco fed president, john williams to send the markets and to something of the chaos. it was not all his fault. the wilshire 5,000 losing $2,205,000,000,000 in market cap. chief economist for moody's capital market, his analysis. looking at all street today, the president of the san francisco fed, los angeles, beginning to an end of the fed's come well, its bond buyback program sometime this summer. it can be shut down altogether this year he said. sex already hit by weaker than expected economic reports, taking a beating. the dow down 101. s&p 500 down more than 16.
nasdaq 36. a little trading enthusiasm a run negative news. declining stocks beat out advances by a margin of four to one. prices down on the commodity market as well. crude oil inventories at a 22 year high. selling and $94.45 per barrel. the bond market, prices moving higher and yields lower. the treasury ten year. the market selling off after san francisco fed president williams said i expect we will beat the test for some improvement in the outlook for the labor market. if that happens we could start to bring our purchases down. we could end the purchase program sometime late this year. all love.
for more fed officials tomorrow will be speaking in public. joining us now with his perspective, chief economist for moody's economist. anyway we could stop them from talking tomorrow? >> no way. that is their job, and we need to do whatever we can to reduce the unemployment rate. lou: doing pretty much what they can. 85 billion a month in purchases of to get as somewhere. is not getting a city where fast. you think that the fed president would like to have his comments back? a little declaratory. >> forecasting is a dangerous business. in this case there is no way of knowing if the economy will improve so that we can afford to phase out t program.
lou: he ignored the less experienced. minutes were misinterpreted initially by the market. yet to come out and say, ts is why we meant to say as he tried said divine our discussion. someone will have too it. >> sometimes silence is golden. lou: unless you are in a particular line of work. we enjoy a folks who helped them along. your view right now, a presells sell-off. 4-1 margin on advancers getting smothered today. >> you have this threat from north korea. this is uncharted territory. you would expect that markets my sell-off. plus, of late, the news on the economy has been less than
expected. i think we are coming back to the realization that at best this economy is going to grow them no more than 2% in definitely. forget about the 3 percent growth that some experts were talking about recently. >> how excited should people be getting about employment numbers? the last time there were pretty close. this is kind of a hit or miss deal. under and 58,000 jobs and they decided that was not to run a thousand of a big deal. >> it is never been a perfect indicator what to expect. lou: let me write that down. that was very freely. >> the is and survey of manufacturers and the service industry showed a weaker employment index. moreover, the nfib index of small business hiring fell to
zero. posting some positive readings. and if this small business sector is not hiring people you won't see much in terms of private-sector job growth. lou: you also have to go back to the adb report and show that the jobs were created in small business as opposed to the -- we get into this. >> created companies have fewer than 500 workers. lou: what to investors do right here right now? >> and in air. quite unlikely that you will see the fed increased the federal fund rate anytime soon. that is with the equimark is keen off of. they compare the dividend yield with the 0 percent interest rates. the bank of japan, the ecb, they
will keep pressing on until there is a rejuvenation of business sales and profitability . lou: the japanese central bank, european central bank, you're saying they're working in league with one another? >> the treasury yields as low. consider the ten year government bond yield, the senior german government bond yield. lou: it is a happy thing for the markets. as always, gre to have you here. moody's. institutionalize cheating lending more than 30 atlanta
educators. there were taking checks with the school system. decatur. the former superintendent. whether this testing man. and we will show you how the obama administration has learned that having nothing about housing, the housing collapse of 2008 and securitization those mortgages. imagine that. as with the day's went public worthiness meant nothing. that is what they want back.
the collapse of the housing industry, in home equity because of the subprime o mortgage meltdown. it stands right now $137 billion, big numbers still it is going to 200 in all likely. regulators predicts that bill will climb. what have we didn't to prevent another housing crisis in not much. we talked about reforming fannie mae and fddie mac, converts them, but nothing happened. now the obama administration is come along, with a really bright idea. just when you think this outfit can't surprise you, here they come. to bring back the same policies that led to subprime mortgage crisis, the washington post
reports that obama administration pushing banks to give out more home loans to people with weaker credit. did not one of them pay attention to what happened? do they not study history? doe they not understand anything? the reasoning? the housing rebound has left too many people behind. this sounds a little bit, just a little bit like well president clinton. like president bush. gosh, i want inch to have money to buy a housebut they don't. it's hard to disagree with the sentiment. but we've seen what happens when people think in terms of sentiment rather than solution. the market is improves. but here is another view on houses right now. 28% of all homeowners, in this country are still owing more than their homes are worth. the mortgage delinquency rate, on all loans is 7.4%.
that is better than what it had been over 10%. just two years ago. but it is still not good. and more than 1.8 million properties in this country received foreclosure filings last year, 1.48 million remain in some stage of foreclosure. and president obama, folks -- i don't know what to say about him. except this, the obama administration is the most hapless ainistration since that of jimmy carter, but to loosen lending standards would revita a repeat of what was a $7 trillion disaster, by the way that was just the houses market, just 5 years ago, one thing to be hapless, but hapless, and irresponsible, we simply cannot
afford. lou: the battle for 2014 is opresident obama out west raising money for his fellly lly democrats. >> march madness becomes april madness, rutgers fires a head basketball coach. >> it looks like connecticut will have a toh new antigun law, judge andrew napolitano will join me to talk about this assault on the second amendment
lockdown, all inboundnd out bound traffic, closed. we'll have details as soon as we bring them to you on the shooting and fort knox. fort knox on lockdown as a result of a shooting that has taken place, all of the details that we have right now. but, as soon as they become available we'll bring them to you. >> all but one of former atlanta school educators indicted in one of the largest cheating scanneddals have turned themselves in former elementary school principal, only person. of 35 indicted, not to report to jail before a midnight tuesday deadline. former superintendent of atlanta schools beverly hall surrendered last night, and released hours later after posts $200,000 bond. hall, allegedly engaged in a broad conspiracy where they changed student test scores and received bonuses for the
improved performance of those students whose scores they changed. >> testimony in jodi arias trial ended abruptly after expert began feeling ill, testifying about travis alexander alleged violent behavior, travis alexander, the victim in the case, the expert to testify tomorrow about events leads to the fight that jodi arias claims firsted her to kill travis alexander in self-defense in 2008. >> connecticut, following in footsteps of new york and colorado about to become, the third state to pass a major overhaul of gun laws. connecticut senate has approved a wide ranging bill that goes to house where it is expected to pass tonight, measures include a ban of so-called large capacity army magazines and 100 weapons that previously had beening
well, will be -- legal will no longer be legal. >> my next guest said that legislation is so burden some it is threatening fundamental liberty, joining us judge andrew napolitano, good to have you here. >> gd to be with you. lou: connecticut, this looks like a sweeping antigun measures. how big a problem is it? >> i think a serious interference with individual right to keep and bear arms, connecticut is unique, with people legitimately grieving over the tragedy before christmas in newtown, and you have a very liberal, progressive government thatments to feel like it is -- that wants to feel like it is doing something to alefalleviate that grieving, but what they are doing would not have stopped adam lanza had these laws been in place at the time.
it will not stop a single criminal from or a single crazy person from doing the type of thing that has plagued our sessiosociety. lou: there are no measures in this to deal with issue of mental illness, and following thatp on background checks. >> correct, this is a wish list for those who hate the second amendment. a dream for those who hate the second amendment. legislators, many of whom know nothing about guns and never fired them, went through a laundry list of guns and checked off ones they thought looked dangerous, many of those are plastic additions to gun to help you aim, they have nothing to to with the strength of the gun or the aim of ammunition or speed of the ammunition. lou: these measures, seem to be, to have everything to do with tragedy, for example.ation of the connecticut bill would
create nation's first state wide registry for people convicted of crimes. registry, and magazines, is this -- -- employ don't realize. canada got rid of their reggistry, it was for rifles on, cost almost $3 billion over the course of less than 15 years. >> if you lived in connecticut, and wanted to give one of your children, a lawfully owned weapon as a gift, you have to get a background check from your own child, that how absurd nd unenforceable this is. lou: when judge napolitano says unenforce in, you mea inible, yt there is big trouble. >> yes, this is just for show, it will interfere with law abiding people. >> quickly, united nations, arms
trade treaty, passed in general assembly, the senate has voted, a symbolic vote, they will not support it, your thoughts? >> it will never be ratified by the senate, it takes a two-thirds vote, even if it were supreme court ruled many times any treat to government enters that ierferes with s with constitutional rights is nul and void, this tramples the second amendment. far worse than the bill in connecticut today. lou: this president voted for the treaty. >> he will sign it, he hates guns like the legislators in connecticut do, but it will not get to first base. lou: judge napolitano thank you very much. >> go to loudobbcom, the links to our facebook page, or e-mail me or tweet me. up next, two influential senators do not see eye-to-eye
se lou: new reports a bipartisan group of 8 house members is preparing its own immigration legislation, no one in the house group will confirm their involvement. so house talks are more secretive than the talks in the senate with the gang of 8, according to new york time, house legislation will most likely offer 3 paths it legal status, expediting process of the dreamers. low skilled agricultural workers issue as well, meanwhile some conservatives may have big issues with the gang of 8 plan in the senate. senator ted cruz is concerned about offering illegal immigrants a green card, he said
that is essentially a path to citizenship. fellow -- well, conservative, marco rubio supporting green cards for illegal immigrants. and rutgers university announcing they fired head basketball coach mike rice after airing footage of the coach physically and verbally abusing players during practice, showing coach throwing basketballs at a play are's head, kicking one player, taunting somewhere homo phobic slurs, rutgers athletic department officials saw footage of this abuse in november of last year, at the time they suspended rice for three games, and force him to take anger management classes, they fined him $50,000. but the university at lettic dec oar today -- athletic director today said that was a mistake.
ncaa has more than a little to protect in this. it. nbc confirming that jay leno steps down as host of "the tonight show" next spring, and jimmy felon will takeover for leno, here is a taste of leno's humor. >> a ground breaking move, associated press, the no longer use term illegal immigrant, that is out. no longer, they will use the phrase untribunalle undocumente. >> tonight show will move back to original home, in liberal, new york city next year, as opposed to conservative -- no. >> up next, president obama takes stage in colorado pushing
gun control in front of denver police props. some of those denver police men are not too happen about being used as a backdrop for the president. we'll take it up with chris we'll take it up with chris stirewalt and joe trippi, next what's droid-recognition ? understanding you clearly... what is the capital of zimbabwe ? ... the first time you ask th the google voice search. the droid razr maxx hd by motorola. droid recognition. droid powerful. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur
us chris stirewalt. and joe trippi. let's start with ifby may, the fact that u.s., is under imminent threat by the north korean dictator, ji kim jong-unf a nuclear attack, chris, i don't understand how we got to this place, i have heard just one elected official, peter king, say we should respond reemptively. >> you know the deal for north korea is they in the past, it has been a predictable pattern, they misbehave, and get bribed, and the kim family stays in power longer. it was a family business for dad and his grandfather, io surely they are waiting for the bribery too come, sooner or later you figure it will, if they go back that we could see shooting on
the peninsula. lou: joe? >> i don't think so, this is a bunch of bravado from a 28-year-old, trying to more show his people who in charge. obama administration is actually handling it by not caving in and starting talks. but, showing real force, moving planes and other things into position, showing them like, we're watching you. make a move, and you will be paying arice. i think that is the best way to handle it right now. lou: before the president ran off to san francisco to raise money for the folks who do have to stand for election next year, he was standing in front of a bunch of folks at the denver police department academy, once again using props. we'll find out what joe trippi and chris stirewalt think about that and more as we continue.
and we'll have an update on that lockdown at north knox that we -- fort knox that we reported before, we'll be back with that and a great deal more, stay with us. with the spark cash card from capital one... boris earns unlimited rewards for his small business. can i get the smith contract, ease? thank you. that's three new paper shredders. [ boris ] put 'em on my spark card. [ garth ] boris' small business earns 2% cash back on every pchase every day. great businesses deserve unlimited rewards. read back the chicken's testimony, please. "buk, buk, bukka!" [ male announcer ] get the spark business card from capital one and earn unlimited rewards. choose 2% cash back or double miles on every purchase every day. told you i'd get half. what's in your walle told you i'd get half. but maybe the problem isn'isn't your lawn. introducing the all-wheel-drive mower from husqvarna. we engineered its unique drive system and dual transmission to handle hills& thick grass&
♪ when emerson takes up the challenge, "it's never been done before" simply bemes consider it solved. emerson. ♪ lou: breaking news that we brought you, update on the situation at fort kno kentucky, army post has lifted the lock down, after a shooting this afternoon. there is still heightened security at the gates, still no word on casualties. but, where we are now is that lockdown has been lifted. we'll bring any further word to you as soon as we can. returning to president obama in denver, using backdrops, police officers for his ongoing campaign against guns, chris stirewalt. at who point does president hear the police officers who say,
they are tired as being used add props for his campaign purposes? >> politicians of all parties and all stripes do these kinds of things, this is a little distasteful, but when you cross the line, and do it with law enforcement officers, especially as there are we heard today, officers who have real complaints about it it makes something generally icky to something distasteful. this is a danger that president has brushed up against before, but today it looks like he has a problem with that. lou: joe trippi does not look -- by this. >> i remember a president with an aircraft carrier with a mission accomplish sign. >> there was not a good move. >> chris is right, presidents, do this. president props, come on.
but. i do think that fact is that 94% of police chiefs support background checks. something like 87% of the american people, and 74% of the nra members support criminal background checks, the president has support for that i don't know if he has -- lou: he extrapolated that to an t right assault on second amendment, some might view that as an overreech. >> i do not know that anybody thinks he will gets for you on assault weapons, he would be lucky if he gets a vote. but there is support for a criminal background check. a lot of police chiefs and officers support that. >> you know, they usually support it because their bosses, mayors are elected and tell them who say to say, let's turn to the vote, is he going to win
anything on gun control? >> the best strategy for president is it get something passed, and call it a 6ry, there is too -- a victory, there is too much resistance in his own party, you mentioned u.s. gun treaty when you were talking with the judge, there are votes stacking up now that will be dem createcomplicated for democrats. president needs to declare victory, even if it is not, say this is all we're going to get and move on. lou: a complaint about the drudge report, should they worry about the drudge report controlling news cycle? >> no, i don't think so, that is you know, a waste of time to engage in that. lou: i'm not wasting any more time then. if you are going to be like that. joe trip i, chris stirewalt thank you very much. >> thank you. lou:in